Silver, gold jump higher on lower than expected inflation report

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Silver, gold jump higher on lower than expected inflation report

The latest CPI report was released this morning, which showed lower inflation than was expected by Wall Street. Which sent the stock, bond, and precious metals markets higher, as traders priced in a higher probability that the Federal Reserve will only raise interest rates by 50 basis points at it's next meeting in December, as opposed to the recent string of 75 bp hikes.

Keep in mind that the report showed that prices were still rising at a significant rate, as the index showed prices were still up 7.7% higher over the year and 0.4% higher relative to September. Yet in today's market where all eyes remain on the Fed and how aggressive they will be going forward, that sent the markets higher in hopes that the Fed will begin to moderate its pace.

Although in other news, there was a report out from Goldman Sachs earlier this week that suggested that whenever the Fed is finally forced to cut rates, they see the gold price going higher by as much as 30%, which would give us a gold price of over $2200. And likely bring the silver price significantly higher as well.

So to find out more about the latest developments, click to watch the video now!

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